Italy PM Says Independence From Russian Gas To Take Longer – FashionStyleng

Italian Prime Minister Mario Draghi said Thursday that his country could be independent of Russian gas by the second half of 2024, longer than previous estimates.

The eurozone’s third-largest economy relies heavily on Russian gas but has been looking for new .s since Moscow’s invasion of Ukraine, including with a deal to boost supplies from Algeria.

Addressing the Senate, Draghi said his government was also seeking to boost its renewable energy production, including by “destroying bureaucratic barriers” to investment, saying it was the “only way” to free Italy from having to import fossil fuels.

“Government estimates indicate that we can become independent of Russian gas in the second half of 2024,” he told lawmakers, adding that the “first effects” of this plan would be felt by the end of this year.

In April, Italy‘s Ecological Transition Minister Roberto Cingolani estimated that the country would no longer need Russian gas within 18 months, following an earlier prediction that it could take up to three years.

In 2021, 40 percent of the natural gas that Italy imported came from Russia.

Draghi reiterated his strong support for EU sanctions on Moscow, including a proposed ban on Russian oil imports, although Hungary is currently blocking it.

“We must continue to maintain pressure on Russia through sanctions, because we must bring Moscow to the negotiating table,” he said.